The National Association of REALTORS® recently came out with a report that explains the impact of remodeling a home in the 2017 Remodeling Impact Report.
Taking on projects is often worth the investment and time.
After remodeling, 75 percent of owners have a greater desire to be in their home. 65 percent have increased enjoyment in their home. 56 percent feel happy and 39 percent feel satisfied when they see their completed project with a typical Joy Score of 9.6. 77 percent feel a major sense of accomplishment when they think of their completed project. 36 percent of owners report the single most important result from remodeling is better functionality and livability, 17 percent report durable and long-lasting results, materials, and appliances, and 17 percent report beauty and aesthetics. 32 percent of the owners did the project themselves, 32 percent hired a professional for all of the job, and 21 percent hired the labor but purchased the materials. 14 percent contributed some do-it-yourself (DIY) labor.
Below are the upgrades that will appeal to buyers or increase the resale value of the home more over other projects:
The report covers both interior and exterior home improvement projects. This report provides a cost recovery estimate for representative remodeling projects. The actual cost of each remodeling project and cost recovery are influenced by many factors, including project design, quality of materials, location, age and condition of the home, and homeowner preferences.